Avalon Commercial Properties LLC has bought Colleyville Square's first, fourth, fifth and sixth phases at 6211, 6213, 6219, 6221 and 6225 Colleyville Blvd., respectively. "They were the only buyer that wanted to buy all the buildings," Cheri White, director of DFW Commercial Realty Group in Grapevine, tells GlobeSt.com. The 33,877-sf, five-building portfolio was on the market three months for $6.72 million.

The office and medical office package was 95% leased at sale time. Dallas-based Stream Realty Partners LP's vice president Russell Webb will lease the single- and multi-tenant buildings, ranging from 7,000 sf to 10,000 sf. They presently have quoted rates of $14.50 per sf to $16.50 per sf, triple net.

The local seller of record is Realty Capital Colleyville Square Ltd., a partnership that's been phased out with the sale, according to White. Realty Capital developed the office park between 1997 and 2003 on 4.06 acres. The park's second and third phases previously were sold to separate buyers.

White says the deal was cash to the seller. She says Avalon Commercial put new financing against the investment and rolled in 1031 exchange funds from a medical office building sale in the Northeast.